WINNER: Services and Management Solutions
Ryan White took a gamble in 2006, leaving behind a fast-track career with office products manufacturer Avery Dennison to launch a pricing consultancy, PRICE FOR PROFIT, out of his basement. White targeted and quickly won a number of manufacturing and distribution clients in Northeast Ohio and elsewhere with his disciplined, data-driven approach and his guarantee to increase his clients’ profit through active price management.
Later that year, White’s vision for growth enabled him to convince two former Avery Dennison colleagues to leave successful careers there and join him in the new venture.
PRICE FOR PROFIT has grown by leaps and bounds every year of its existence, including 60 percent-plus growth the past two years. The company leased 3,500 square feet of office space in 2010, contracted for additional space last year, and it plans to add eight new hires to its staff this year.
PRICE FOR PROFIT’s business model consists of a niche-pricing practice that is focused on business-to-business manufacturers and distributors, and that goes all the way down to transactional level as opposed to strategic level. From its inception, the company has offered two elements that it says are unique within the pricing industry: a risk-free guarantee and a specific focus on business-to-business clients.
PRICE FOR PROFIT has experienced minimal employee turnover during its existence, largely because of the people initiatives the company has implemented. White, founder and managing partner, encourages employees to plan for both personal and professional growth and has an open-door policy to discuss work-life issues such as trial work-from-home arrangements and sabbaticals from the office. White says he regards the company’s focus on attracting, challenging and rewarding top talent as foundational to all it has achieved in its first five years.
How to reach: Price for Profit, www.priceforprofit.com.